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International Marketing

International Marketing

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Published by Hardik Savla

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Published by: Hardik Savla on Mar 17, 2011
Copyright:Attribution Non-commercial


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International Marketing

Introduction : International Marketing is essential for all countries since no country is self-sufficient and can live in complete economical and political isolation Definition : The term international marketing refers to exchanges across national boundaries for satisfaction of human needs and wants (Subash Jain)

OBJECTIVES ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Brings countries closer for trading purposes Integration of economies Establish Trade relations Facilitate and encourage social and cultural changes Better standard of living Assistance in economical and industrial growth Optimum utilization of resources Encourage world export trade Comparative cost advantage Keep International trade free and fair by avoiding trade barriers .

Features ‡ Large Scale operations ‡ Domination of multinational and developed countries ‡ International restrictions Tariff and Barriers Foreign Exchange regulations ‡ Sensitive character ‡ Need for international marketing research ‡ Advanced Technology ‡ Acute competition ‡ Need for specialized institutions ‡ Long term planning ‡ Lenghthy and time consuming .

Problems and Difficulties ‡ Payment: currency ‡ ‡ ‡ ‡ ‡ ‡ ‡ foreign exchange regulations foreign bill of exchange Risks and Uncertainities in Transportation Government Restrictions Difficulty in communication Time gap Difficulty in preparation of documents Severe competition in global markets Miscellaneous difficulties .

3. 9. To the nation Standard of living Optimum utilisation of resources Rapid industrial growth Comparitive cost advantage International competition Facilitates cultural exchanges Better utilisation of surplus Availability of foreign exchange Expansion of tertiary sector Special benefits in emergencies ‡ 1. 2. 5.Importance ‡ 1. Company Profits Foreign Exchange Full utilisation of existing capacity National obligations Various concessional incentives . 10. 7. 5. 8. 4. 4. 3. 6. 2.

Difficulties.Company ‡ ‡ ‡ ‡ Finance Reliable and adequate information Contact with foreign dealers Formalities .

Differences between Domestic and international marketing ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ ‡ Meaning Nature Trading Blocs Licencing and procedures Environmental changes Risk in trade Competition¶Government interference Division Quantities Incentives Agencies Gains of trade Methods of payment Use of currency .

Limitations Unequal sharing of benefits Restrictions on international marketing Adverse effects of trade blocs Domination of Mncs and Developed countries on international marketing ‡ Existence of severe competition in international marketing ‡ ‡ ‡ ‡ .

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